Greg Palast: Powell's bag of leaches: great read [View all]

https://www.gregpalast.com/powells-bag-of-leeches/


See the leeches? When the Federal Reserve announces another interest rate on Wednesday, look for the little bloodsuckers crawling out of the pockets of Chairman Jerome Powell. I’m sure he’s got them, because his cure for inflation has much too much in common with Medieval bloodletting, and is just as effective.


From left to right: Putin, Exxon, MBS, Jerome Powell, Xi Jinping, Jamie Dimon

Inflation has fallen, and fairly fast. Powell is preening, taking credit for this miracle, care of his leeches—the ever-higher interest rates bleeding wage workers. In the Dark Ages, doctors who saw a patient improving, gave the credit to the leeches–and applied more. Powell, seeing wage workers bleed, is sure he’s curing the patient.